TechFlow news, May 27 — Market data shows that as of press time, shares of sports betting operator SharpLink Gaming surged nearly 600%, currently trading at $47.
Earlier, SharpLink Gaming, Inc. (Nasdaq: SBET) announced it has entered into a securities purchase agreement for a $425 million private investment in public equity (PIPE), planning to issue approximately 69.1 million shares of common stock (or equivalent securities) at $6.15 per share ($6.72 per share for members of the company's management team). The proceeds are intended to be used to purchase Ethereum (ETH) as the company's primary treasury reserve asset.
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